to talk about that policy and talk about the current state oftheeconomy. ourother special guest will be former florida governor jeb bush. i'm going to ask him about the civil war in the republican party and how to solve it. all that and more on a special edition of "the kudlow report." we are live from washington, d.c. tonight and we begin right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." we are live, 7:00 p.m. eastern, 4:00 p.m. pacific time. we are in washington, d.c. top stories, continuing failure that is obama care tops the news tonight. we begin with a breaking story from our colleagues at nbc news. four stories deeply involved in the crafting of the affordable care act tell nbc news that most of the 14 million americans that have their own health insurance will have their insurance cancelled as a result of obama care. the report says the white house has known this will happen for at least three years. and that means that the repeated promises made by president obama and others about keeping your own health plan were just not true for mi

bonds becausetheeconomyisstill not strong enough to generate enough jobs without interest rates staying lower than they might otherwise be. the stock market's retreat and the dow gave up 62 points. the s&p dropped 4.9%, and the nasdaq declined .55% and can clearly be laid right at the fed's feet. that's because until the fed releases the down beat statement crafted after the monthly meeting the average is pretty much even keel and after a moment's hesitation. the sellers -- >> sell, sell, sell. >> overwhelm the market and stocks began to plummet. detailing and explaining a pattern of stock buying and selling that while totally counterintuitive has become the mod us operandi, and i want to game it with me. first, the stock market acts pretty sanguine in the days leading up to the fed meeting largely because we know the economy is too weak to stand up by itself. we know the fed has to continue to buy bonds to keep interest rates low, and they told us that. lower rates allow the companies to buy more aggressively and hopefully from the fed's point of view so they expand operations.

of americans hungry, and potentially do some serious damage tooureconomy. economistshave found out that, and projected that every dollar of s.n.a.p. spending generates $1.70 in the local economy and the economic activity in america. this will hurt the revenue of 250,000 grocery stores and supermarkets across the country that accept s.n.a.p. payments. it's a domino effect. once again, house republicans don't care about small businessowners, either. there's a lot of small grocers out there that certainly work with the food stamp program. and you know what? this is a scandal. no, it's not the irs. it's not benghazi. and it's not people losing their health care with these notices that are coming in. this is the scandal. this is the most kicking the least right in the teeth for no reason at all other than unmitigated greed. go back to ted kennedy on the senate floor in 2007. when does the greed stop? i'll answer you tonight. never. they are concerned. these people of faith are concerned about people who make less than $15,000 a year. they're the problem. they're able bodied, they're fat, sit

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for more stimulus from the fed, a read ontheeconomywillcome tomorrow. the s&p 500 got in the game, hitting a new high today, it's been doing that nearly every day, it seems. finally the nasdaq nearing a 13-year high, larry the dow transports and russell 2,000 hits new high, we will do that to the market. back to you. >> there may be more of that easy money on the way, kayla, thanks, so much. now, obama care is taking center stage on capitol hill today the administrator of medicare and medicaid services testified before the house committee on ways an means. for that, we turn to political reporter and cnbc robert costa of the national review. he joins us live from washington. as always, goef, robert. robert, give me a read, all right, i have spoken to chairman fred upton who will be on in a moment. in your political read, what do they want out of sebelius, will they all call for her to be fired? are they going to jump on her? how is this going to work? >> the republicans will grill the secretary on the rollingout of healthcare.gov the central portal for obama care. what they're real

in the company's consumer line business. the ceo was on the closing bell yesterday talking abouttheeconomyandthe broader business environment. >> it was lacking is enough confidence to take risk toes create jobs. i think that's the big issue here. but people are maximizing what they have. they're not doing a lot of new things. so for aig, we continue to grow. we continue to grow across the board, both in the united states and around the world. but it's a matter of our clients are a little bit more cautious. but i don't know that this quarter or next quarter that you'll see any effect on our business materially. >> and stores products retailer container store, they raised $225 million. the ipo was priced at $18 a share, the top end of its increased price range. stairs are set to start trading on the new york stock exchange today under the symbol tcs. >>> microsoft co-founder paul allen's fund is suggesting microsoft spin off its consumer business. this is big news. the man who manages allen's fortune is now suggesting that microsoft search and xbox business res deextracting from the softw

point. because the shutdown certainly slowedtheeconomy. it'sgoing to skew the data. it's going to be great opaqueness to the data over the next month or so. i think the important thing to remember is although there was damage done to the economy, and we could argue how much or how little, there was damage done to the economy. the important point is it's not irreparable. as washington gets out of the way, we will see the private sector begin to work its way back. we'll see some of those trends we saw establish themselves in terms of improving economy before the shutdown, we think those trends are going to come back again. >> will washington ever get out of the way? i hope so. they're certainly not off the calendar yet. we'll see if we go through the same debacle again in february. >> i think you agree with that, rick santelli. some of the economic data we're getting -- you want them out of the way, don't you? >> listen. it all depends on what your definition of out of the way is. i would like to address mr. bernstein's comment. i'm not seeing chicago is going to reflect the enti

american workers furloughed, $24 billion totheeconomyforno reason. they're betting on we have short memory. i'm voting we'll have long lines waiting to vote and vote for the interests of the american people. thanks for watching. i'm al sharpton. "hardball" starts right now. >>> the wacko birds go pheasant hunting. let's play "hardball." ♪ . >>> good evening. i'm chris matthews in new york. let me start tonight with this. halloween is about pretend goblins. we can laugh at what we're afraid of. ghosts, monsters, tea partiers. but ted cruz is for real. he's not just a nightmare but out there this weekend in the broad scary daylight of iowa. he's saying he has nothing to be afraid of. he denies he caused serious economic damage with the government shutdown even though economists who deal in real numbers say he did. he said the real demons are those moderate republicans who finally ended the shutdown on the edge of the government default. senator cruz is the right wing zealot of the season. his attacks were relentless and have stirred resistance to the health care program. he ha

a cycle tooureconomy. wehave a cycle to the market. fifth years can give you some nasty things. the fifth year of the 1982 market brought you the crash. we got five years out of the market through '95 to '99, and then we stepped off the curb and we ended in the 2000 dotcom bubble bursting. >> from a practical standpoint, what does that mean? when you say be cautious, what are you saying? are you saying selling into the rally? raising cash? what? >> i'm saying you have to be defensive in your choices here. of your risk money, i think you have to have a very significant amount of it in defensive position. so, what i might do is be looking at value stocks as opposed to growth stocks. i might be looking at midcaple and large cap value stocks. i might be looking at staples, the consumer stams have been leading, but only for about a month. those are traditionally a defensive place to be. >> david, you think we're in a phase where a lot of what's going on is performance-chasing. we've already had great performance in the he cequity markets for the last few years. now people want to ge

's critical, obviously, to the fed and totheeconomy. adpnumber out this morning, not so great. let's check in with you at the nyse. >> you're absolutely right, and we will get to that but we want to start, ty, with the fireworks on capitol hill as kathleen sebelius goes before the house energy and commerce committee. bertha coombs is on the case on capitol hill. over to you, bertha. >> sue, the hearing lasting more than three and a half hours and members of congress usually a little more def ren shall to a cab meth member but they did hit secretary kathleen sebelius hard on a number of issues. she started out by apologizing and taking responsibility for the website nurse and it's improving every day. clearly there have not been enough but she said none of the contractors who said they raised red flags said the problems warranted delaying the october 1st rollout. when pressed by congresswoman marcia blackburn about some of those critical late decisions that may have contributed to the failures and who made them in her staff sebelius said ultimately the buck stopped with her. >> i'm not poin

concerns the strong ism, good news fortheeconomy, concernsthe fed might start tapering as early as december. take a look at interest rate. the ten-year yield has been moving up the last several days. moving up again today as you saw, moved up around 1:00 as we heard news of the shooting. today the market much more defensive tone. you have utilities and health care stocks among the leaders. guys, back to you. >> thank you, bob. we'll be checking back. as we proceed on "closing bell" today. >> certainly an interesting day. we'll be following the developments out of l.a.x. the markets are about to close in about half an hour. with that much time to go, about 15,606 on the dow. the s&p up by just four points. >> much more on the shooting at l.a.x. as we continue our coverage for this friday. ♪ ♪ hey [ male announcer ] when we built the cadillac ats from the ground up, to be the world's best sports sedan... ♪ ...people noticed. ♪ something like a phenomenon, baby ♪ ♪ you're something like a phenomenon ♪ [ male announcer ] the cadillac ats, 2013 north american car of the

. iftheeconomycanget along, you can add 2.6 and get a home mortgage at 4.6 they're not about to give away anything on the bond market. i think that's why rates have stayed, other than when politicians messed things around in the middle of october, we're sitting at 2.6 and i think so the bond market says, we're not going any lower than this. >> we saw a pretty good spike last week. people were worried last week but there's always a cap. >> i think the cap is if this economy can adjust and move homes, which we're not forming households we're off about 300,000 in terms of hos hold formation. if we can get household formation back, we'll see progress. i think rates -- the bond market is saying we're not going anywhere. you can't talk us down any more fed chair. we see the rates coming. we know they're rising. >> what do you think? >> just given where how much rates rose on the threat of taper, that i don't think janet yellen, if she is, in fact elected as fed chair, is going to go anywhere close to pulling back too quickly. she's going to error on the side of being sl

and there was no reason. >> think about whattheeconomywasdoing in 1999. the u.s. was coming off a period where we had reasonably strong economic growth, the unemployment rate was probably below 5%. it's not necessarily the behavior of the market necessarily, even though there are signs of consistency, it's more the fact we've still got the unemployment rate up above 7% and there's a sense the economy is just not clicking. >> i think it's poetic, that the money section in "usa today" "is the fed inflating a stock bubble," just as we're finally getting to a tapering -- did you hear plosser today? >> saying he wants to cap the signs of the balance sheet. >> he wants a number on the balance sheet. we're back to that. >> well, look, i don't know. i know too many people who own stocks and they're actually happy that they made money. i can't begrudge them. it's been a great time. the fed wanted the wealth effect to come up. all i can say is what has congress done to help the economy. what has the president done? they can't even build a bridge these guys. >> that's why the fed's the only game in town. >> the

was targeting housing as one of its ways to restarttheeconomy. housingis not working anymore. i understand why they needed to keep it up. i think that the confidence was really hurt by the budget talks. >> the international companies that we trade, not hurt. europe, once again, pmi over in europe, so good, talking about ireland, spain, italy turning. those were the three. >> if portugal turns, holy cow. >> ireland has 5 million people in it. italy is a little more important. remember the big market. >> speaking of the bond market, people still watching the ten-year at 2.6. >> it has been argued if it does go higher, at what point can you say the fed has lost control, in the bond market. >> there was a huge gap, between 3 and 2.5. people expect 2.99. if you watch stocks like home depot, they rallied as rates came back down. that will be my canary in the coal mine if home depot starts going down. the housing stocks have all just floundered here. >> we are going to get there, time warner cable, of course. kellogg out today cutting 7% of their global workforce. >> you know what's a shame? the

's troughing. >> any reflection on theindustrialeconomy? >>you know kleinfeld. alcoa is up $1 since that call. 1.25. told you that trucks were a little bit hurting. eaton, sandy cutler said trucks are troughing. you knee what this makes me feel? makes me feel a little better about caterpillar. a lot of people where the gang couldn't shoot straight, i myself was kit call about it. cummings is a great company. it has a lot to do with mining trucks. mining trucks. but i'm not walking away from cummins, even if they tell me to! it's too great an american company. >> and get a chance to buy it cleaner today. >> all right. we're going to keep an eye on stocks, including what's coming up at the opening bell. ♪ [ male announcer ] staying warm and dry has never been our priority. our priority is, was and always will be serving you, the american people. so we improved priority mail flat rate to give you a more reliable way to ship. now with tracking up to eleven scans, specified delivery dates, and free insurance up to $50 all for the same low rate. [ woman ] we are the united states postal

, shatteringtheeconomyallacross the country in all 50 states. >> of course there are death panels. that's just one aspect of this atrocious unaffordable, cumbersome, evil policy of obama's, and that is obama care. >> you know, obama care is really, i think, the worst thing that has happened in this nation since slavery. and in a way it is slavery, in a way. >> sure. anyway, welcome back to "hardball." as you saw in that clip, some of the right have been so blind by their hatred. cruz said it's become like sugar, it's become addictive. they're frayed of it be popular. they also determined that the health care plan won't bankrupt people when they get sick. i want to again with this. it's hard to keep track of all the distortions out there. but let's take a look at some of the most overrepeated charges against the affordable care act. the first is that you'll lose your current coverage. they won't be able to piddle those junk plans that they had before. or they cap your benefits at incredibly low level, and those are gone. those weren't good policies any way. and the second one is that the

last year's third quarter. on today's earnings quarter, we have dow and merck. as fortheeconomy, we'llbe getting industrial production numbers. pending home sales. dallas fed manufacturing survey. also, toyota talking about under the hood, keeping its top spot in auto sales rankings so far this year topping rivals gm and volkswagen. japanese car sales topping 7.4 million vehicles. that's up .1% from a year ago. strong sales in the u.s. offset slowdowns in thailand and china. joe, what's going on in washington? >>> in washington this week the redskins are probably dealing with what was a disappointing -- because they were ahead. they were ahead by two touchdowns right at the beginning of the second half and things went south quickly. so you only saw five minutes of the jets game. >> no, i know what happened. congratulations. >> thank you. i'm not looking for congratulations really. it's been a long time. people are talking about 25 years since the joe montana beat -- when the bengals got -- and i asked my kids to watch. they were watching when carson palmer's knee got blown out on t

's the fed or it's whattheeconomyisgoing to finally do because of the fed up another 12 points. a decent session on friday. oil has been a pleasant surprise for commuters from $195. the ten year, interesting on friday got down, now it's back up -- it's been anywhere between the 2.4 and 2.6 handle recently. the dollar has been moving in the right direction for travelers. just recent, 1.35. we could go on to 1.35 which would help a little bit. then gold made its move to the mid 1300s and immediately turned back down. it's been in the trading range for i would say about six months. >> so plausser becomes a voting member next year and bullard is a voting member now. >> fisher -- >> he won't be. >> fisher will be next year. >> okay. >> you have new york, dallas, minneapolis, cleveland, philadelphia. >> i guess what i'm wondering, does the voting actually change the outcome? it sounds like the answer is no. if yellen says this is what we're doing, this is what we're doing. >> may get more contemptuous and more arguing. >> the minutes are more interesting. >> there's joeys and there's boomers.

valuations relative to the value of theoveralleconomy. andyou've got a number of folks that are kind of pulling the plug on some stocks. maybe a little early, but nonetheless, that gives a little warning sign. so, we think we're in a topping phase. we still have upside. we're still positive in the near term. but kind of two-handed situation. we've got good and bad and then in between the market's heading higher. >> santelli, what are you expecting from the fed this week? >> very little change. i don't see through the first quarter, maybe through the second quarter, many changes. markets will have a hard time getting a strong rally knowing tapering is probably not going to happen any time soon. when when everything is right with the world, interest rates have to normalize at some point and i think the fed outstayed their initial reservation at hotel subsidy. >> i think the world always does look better through a morphine haze, i'm told at least. rick, i want to ask you, i mentioned on twitter today how bank of america issued two different reports. one, they turned bullish on gold and

's going to be about $15 billion of new money infused intokentucky'seconomy. sothis is a win-win situation. >> what do you think about other states that have rejected this? i mean, you must be -- you see what it does for your state. your thoughts on other states that just haven't gone down this road. >> unfortunately, i think a lot of them are making political decisions as opposed to decisions in the best interest of their people. and i would predict to you that over the next two or three years, most of those states will end up doing exactly what we're doing, because their people are going to see what kentuckyians are getting, what people in other states are doing, affordable health coverage and they're going to demand their political leaders do what we're doing. >> now, you have done this with basically three contractors, correct? and this hasn't been a huge expansion of kentucky government. >> oh, not at all. i mean, we brought the private enterprise in to do this with us. we have our own people that already work in the medicaid system, and public health. and those kind of

of the markets. >> yes, he is. >> but his whole thing about the mismarkets is it's basedoneconomyeveryonethought. >> not as -- >> here he is, all his call ves come through, but for all the wrong reasons and for something he may hate. >> he'll be kind of honest. he'll be kind of off. and he always like like he has a -- he's got the scruffy -- >> he can go did on walter weiss, too. >> yeah, without a costume. >>> ten-year fed -- >> our guest host today was wrong and he looks like walter weis. >> we always stroke him. >> we do. we love him. >>> they're 2.51%. i thought the fed said we're never tapering. other people said, you know, some earth shattering news that they might be data dependent. how many times have we said that? there's the dollar, 1.36. come on. get down below 1.30. soon. >>> and then gold has had some kind of -- once we found out about the central banks, it's done nothing by go up ever since the article about the central bankers starting to hit a shelf in gold. >>> a number of stories out in washington including a new nbc news "wall street journal" poll. hi, aman. you're goi

. fed watchers say ben bernanke and company may point to softer readings ontheeconomytosignal that the policy will be extended into next year. >>> as for the other items on today's economic agenda, the october adp employment report is going to be released at 8:15 eastern time. it's expected to show 150,000 private jobs were added this month. the whisper number, though, is below that. we'll see what happens. coming up at 8:30 eastern time, we have the september consumer price index. it was delayed by the government shutdown, but it will be hitting the tape today at 8:30. the futures this morning, you can see right now, are indicated higher. dow futures up by about 55 points. s&p futures up by close to 6 1/2. andrew, back over to you. welcome back. >> thank you, becky. it's nice to be back. we have corporate news this morning, the big one being jpmorgan and the justice department reportedly hit a stumbling block over that 13 million settlement over the mortgage bonds we've been talking about for the past two weeks. the two sides are set to be arguing over whether mistakes to be

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their pedal on the metal. they're not going to stop until they feeltheeconomycanstand on its own two feet. >> michael jones -- >> they're not going to taper. >> right. michael jones, weigh in here. how are you allocating? you agree, you want to buy stocks here? >> we believe you get the best example of how powerful the qe in terms of significant pullbacks by contrasting the last budget fiasco in 2011 with this one. we had almost a 20% plunge in the market in 2011. we had a 3%, 4% pull back this time. i think it does give you a sense as to when they're pushing the qe, it's hard to get a sustained pullback and it's perilous to fight the fed. but the market has turned from being overly concerned, this summer everyone said september, and now everyone is pushing tapering out to march, even april. i think there's a real possibility the economy sloweded because of government shutdown and rates. if we reaccelerate, tapering comes back on the table and a lot of sectors are not priced for that. >> so, you -- are you saying you want to raise cash here or short or what? >> i think the overall market,

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of performance. northrop grumman. as your life changes, fidelity is there for yourpersonaleconomy, helpingyou readjust along the way, refocus as careers change and kids head off to college, and revisit your investments as retirement gets closer. wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. . >> let's calm it contracttual obligation. game sixt fenway tonight. they could wrap it up. we figure a great game 7 tomorrow on halloween. we are seeing rain and snow moving through new england this morning. again, temperatures will be warming up during the day. i'm not too concerned of a rain or a wash. showers are possible even later on this evening. in the boston era, we will be dealing with temperatures that will be very warm, should be about 58, 56 degrees or so. willie, one thing that's interesting, talking to barnicle, tonight the wind will be blowing out of the south 20 miles an hour. >> that heads over the green. >> oh, dear lord. >> it could be a lot more runs than people think. >> wha

damage from the fed's attempt to stimulatetheeconomy. tellpeople they need to sell, sell, sell. because of the bubbles. easy. but it hasn't been right. and i don't think it will be. let me tell you why. why don't we deal with the reality of the situation rather than just bubbles? let's talk about how difficult it is when the day-to-day basis to call something a bubble and then, therefore, have to sell the whole position based on the logic of bubble overvaluation. consider what happened today with two big household names. facebook and starbucks. last night the companies reported fantastic numbers. amazing ones. analysts armed to the teeth with bubble poppers wanted to work, they went right to work on the q&a. they highlighted everything that might make you feel like you have two huge bubbles on your hand. you know what? they had double bubbles. double bub -- double bubbles. thank you. facebook gived a monster quarter but seemed as though anyone could focus on a comment about how younger teens have decreased usage. and how the company doesn't expect to significantly increase ads

what, people say, holy cow,thiseconomyisso weak. they get scared. you know what they do when they're scared? >> sell, sell, sell. >> if we get a big number, taper talk will be thick and more sellers. if you're at all nervous about friday, a strong or weak number, you'll get -- >> sell, sell, sell. >> unless the number comes in goldilocks style, not too strong, not too weak. how about individual companies? money day is independent oil day. after the close we'll hear from anna darko and pioneer natural. you've heard these companies on our show. i think all three will raise production numbers. be aware oil plummeted. if crude goes $5 lower to $90, all stocks will get hit no matter what they say. that's the psychological barrier. if oil rallies on monday, i wouldn't be a buyer of any of them going in. tuesday we have controversial names. tesla and regenron. tesla say he would cold stock. if elon announces a europe, it will be a flash. regenron there's a lot about competitive products in the pipe. i even suggested to trim gilad, my favorite. i think you stay on the sidelines for regenr

it in perspective. this is the same team that closed the government for 16 days, that costtheeconomy, bysome economist measures, $24 billion. this was a self-inflicted wound. so they put this pain on the public and then they're causing more pain by not continuing the recovery money, the $5 billion, that is so desperately needed. this past week, i went to two of the centers in the district that i represent, and when you see the faces of the children and the adults, many people are working, but they're on minimum wage. they need this supplement for their families. many of them are looking for jobs. economists tell us, for every job opening, there are three people waiting in line, and one in seven people in america are on food stamps. and to me it's unconscionable that the most prosperous country in history is getting food lines that are going to be longer and longer. and this is on top of, to put it in perspective, the sequestration, which is across the board cuts, and on top of the conference committee now that is looking at a $40 billion cut versus a $4 billion cut. so it's very serious and

. a two-week government shutdown and the threat to blow uptheeconomyifthe health care isn't dismantled. strong stuff. ron reagan, i want to start with you. this has been a concerted effort. it's like when you read about lincoln coming to washington through baltimore and into town because the secession movement has begun. they didn't give this guy a honeymoon. they didn't give him nothing. they started going after him from the beginning. >> no. and they haven't learned their lesson. they just got their hat handed to them with their government shutdown and the debt ceiling, and you'd think they'd be chasing it a bit, but they're going to keep this up. it's an ideological war they're fighting where these tea party members, they think the government is bad. not only do they think that obama's government is bad, any government is bad. so they want government to fail. which is a pretty outrageous thing. imagine when the iraq war was getting under way if democrat who opposed the war, weren't crazy about george w. bush to begin with began denying troops body armor or denying them armored vehic

to be a given. then, the fed showed to be pressed becausetheeconomysloweddown. the next thing you now, did you see the housing stocks last week. they were on fire. a couple of notes from home depot doing very well. gasoline, let's not underestimate the power of gasoline going down. it is kind of remarkable. a lot of good things happening away from congress, the president. i always have to say both. >> the further you get away from it, probably the better things are happening. >> let's talk about merck, excluding items that are 92 cents a share. that was ahead of wall street's forecast. revenues missed as sales of merck's diabetes drug fell. they were hurt by patent ex per rig ri expirations. i look at a note and he was questioni questioning these jenuvia franchise groeth. they believe there was a $60 million wholesale or inventor work done in the quarter. the corrective demand was probably close to 762 million with the prescription trends. >> i live in summit, new jersey. we have all been trying to figure out what the heck happened with that. $9 million taxpayer, huge amount of summit's bu

years ago, it was double-digit growth. the amount of dollars was much smaller adding totheeconomy. now,you're growing at 7%, and the dollar value is very, very high. so i see tremendous growth and i don't see the slowdown. i really don't. when i visit various cities and companies in china. >> so how does the average investor, the retail investor at home play the markets you're suggesting? what's the best way for them to put their money to work? >> well, first of all you have to remember at least 30% of the global market capitalization is emerging markets. therefore they've got to look at 35% of tare portfolio in emerging markets. then don't forget frontier. i forget to mention africa is very exciting now. 3 to 4% in frontier markets as well because they're growing faster than emerging markets generally. >> you have a frontier markets fund but if people are not able to get into that, and you want to play in africa for the retail investor sometimes it's daunting, confusing. would you recommend are there etfes that can do that or better to buy say multinational corporations that are inve

is a sign of deflation. deflation. and weakness intheeconomy. ithink the fourth straight month of declines in existing home sales could be behind that action we got the number earlier this morning. that plus an overall sense this economy is dead in the water. or will soon be because of a dearth of consumer confidence laid at the feet of washington which is only going to grow more rancorous not less as it seems to me politicians learned nothing from the most recent debacle. so many pols believe they're doing what's right for the country as consumers seem to be on hold and businesses stall here because of a horrendous partisan bickering that makes it much more appealing to do business -- guess where? overseas. on top of that, these consumer staples are huge beneficiaries of the decline of the dollar and raw costs, notably oil and gas. the estimates could be too low. lots of reasons for those stocks to keep rolling higher. we also saw the powerful tug of management execution on big stocks. today merck reported a number that looked on the surface like a nice beat. but when we went

's the real walmart. as your life changes, fidelity is there for yourpersonaleconomy, helpingyou readjust along the way, refocus as careers change and kids head off to college, and revisit your investments as retirement gets closer. wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. >>> welcome back to "the ed show." we moved ask ed up tonight. our first question from rick fabian. he wants to know, do you think republican politicians ever think about how they will be viewed by future historians. well, actually, they're certainly not acting like it. no, i don't. i think that they think that they can lie their way out of anything. but for the record, and i don't think that they're going to be able to wiggle out of this one, no republicans have been on board with president obama when it comes to health care reform, and through all of the debate and obstruction and implementation, they have offered no plan, no plan whatsoever to help the uninsured or underinsured in this country. i think

apologized for not wrecking theworldeconomy. theyvoted to say that they wish they had wrecked it. these are the people that harry reid works with on a daily basis, my exclusive interview with harry reid is coming up next. plus, i need to tell you that senator rand paul has responded, kind iof, on our recent reportig of rand paul plagiarizing some of his speeches. that is coming up. [ rob ] our daughter is all kate. same grin, same walk. and the same beautiful hair. [ female announcer ] nice 'n easy. in one step get expert highlights and lowlights. for color they may just think you were born with. [ rob ] i'm a lucky guy. [ female announcer ] with nice 'n easy, get the most natural shade of you. wears off. [ female announcer ] stop searching and start repairing. eucerin professional repair moisturizes while actually repairing very dry skin. the end of trial and error has arrived. try a free sample at eucerinus.com. the end of trial and error has arrived. at a ford dealer with a little q and a for fiona. tell me fiona, who's having a big tire event? your ford dealer. who has 11 maj

republican senators apologized for not wrecking theworldeconomy. theyvoted to say that they wish they had wrecked it. these are the people that harry reid works with on a daily basis, my exclusive interview with harry reid is coming up next. plus, i need to tell you that senator rand paul has responded, kind of, on our recent reporting of rand paul plagiarizing some of his speeches. that is coming up. ♪ at any minute... ...you could be a victim of fraud. most people don't even know it. fraud could mean lower credit scores, higher loan rates... ...and maybe not getting the car you want. it's a problem waiting to happen. check your credit score, check your credit report, at experian.com america's number one provider of online credit reports and scores. don't take chances. go to experian.com. >>> when congress finally voted to reopen the government after a 16-day shutdown, that cost the economy in excess of $20 billion. but congress finally voted to reopen the government after 16 days. they voted also not to hit the debt ceiling on the very last day that it was possible to avoid hitting it

of explaining stuff when he needs stuff to understandtheeconomyandwhy the country is going in the right direction. so president obama in the end despite what this book says and i think some of this is true, i think in the end though, i think president obama did value clinton's input as did his campaign. >> how does he walk this kind of stuff back? or does he not need to because he doesn't need president clinton anymore. >>> i think going forward, what's important is how bill clinton and president obama play in 2016, if hillary clinton gets in the race, what happens to joe biden? that's obviously touchy there. i think president obama will be pretty supportive of hillary clinton goes and biden chooses not to. if they both go, that will be awkward. >> new topic with house and senate negotiators rather set on -- rather they met wednesday. lawmakers working right now to pass a temporary budget before the unone expires on january 15th. any sense from the white house whether it's going to turn into another 11th hour fight, lauren. >> i think one of the things we're seeing from this is that the

, fidelity is there for yourpersonaleconomy, helpingyou readjust along the way, refocus as careers change and kids head off to college, and revisit your investments as retirement gets closer. wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. ♪ ♪ if i was a flower growing wild and free ♪ ♪ all i'd want is you to be my sweet honeybee ♪ ♪ and if was a tree growing tall and green ♪ ♪ all i'd want is you to shade me and be my leaves ♪ grown in america. picked & packed at the peak of ripeness. the same essential nutrients as fresh. del monte. bursting with life™. even when we cross our t's and dot our i's, we still run into problems. that's why liberty mutual insurance offers accident forgiveness if you qualify, and new car replacement standard with our auto policies. so call liberty mutual today. and if you switch, you could save up to $423. liberty mutual insurance. responsibility. what's your policy? >>> thanks for watching tonight. i guess you could call it the shut

of the productivity story. so whentheeconomydoespick up, that's going to fall right down to the bottom line. you'll have a much greater profit expansion. >> i mean the point is well taken, gemma, by your followers that cost cutting can only take you know, earnings so far. but it depends on how much fat is on the balance sheet right now, right? >> exactly. because you can only cut so much fat and then have you to look at, how can you grow performance? if we're using the analogy, how can you make that steak taste any tastyier? some ways is profit momentum. what we're looking for in terms of, for example, biotech sector there are many different multipliers, many different drivers. you have m&a activity secondly a strong pipeline of products. you have revenue growth drivers that are there. that's the reason we're slightly more comfortable there. going back to the point that was mentioned initially in terms of valuation, et cetera, this is a sector that's underowned. again, that's quite rare in this momentum-driven market to find something, you know, that is positioned like that. >>

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